Carlyle Group Inc. Sells 2,695,916 Shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO)

Carlyle Group Inc. reduced its holdings in shares of Soleno Therapeutics, Inc. (NASDAQ:SLNO - Free Report) by 66.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,375,646 shares of the company's stock after selling 2,695,916 shares during the quarter. Soleno Therapeutics accounts for about 13.8% of Carlyle Group Inc.'s holdings, making the stock its 2nd biggest position. Carlyle Group Inc. owned approximately 3.19% of Soleno Therapeutics worth $61,753,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Walleye Capital LLC bought a new position in Soleno Therapeutics during the 4th quarter valued at $3,458,000. XTX Topco Ltd purchased a new position in Soleno Therapeutics during the fourth quarter worth about $283,000. Mariner LLC bought a new stake in Soleno Therapeutics in the 4th quarter worth about $418,000. Barclays PLC increased its stake in Soleno Therapeutics by 141.1% in the 4th quarter. Barclays PLC now owns 126,675 shares of the company's stock valued at $5,694,000 after buying an additional 74,130 shares during the last quarter. Finally, Summit Investment Advisors Inc. lifted its position in shares of Soleno Therapeutics by 24.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 2,677 shares of the company's stock worth $120,000 after buying an additional 522 shares in the last quarter. Institutional investors and hedge funds own 97.42% of the company's stock.

Soleno Therapeutics Stock Up 0.1 %

SLNO stock traded up $0.05 during trading on Friday, hitting $69.98. The company had a trading volume of 1,236,195 shares, compared to its average volume of 722,952. The firm has a market capitalization of $3.21 billion, a P/E ratio of -21.08 and a beta of -2.29. The company has a 50 day simple moving average of $55.17 and a 200-day simple moving average of $52.07. Soleno Therapeutics, Inc. has a 52-week low of $36.61 and a 52-week high of $74.00.

Soleno Therapeutics (NASDAQ:SLNO - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.41). Sell-side analysts forecast that Soleno Therapeutics, Inc. will post -3.72 earnings per share for the current year.

Insider Activity

In related news, insider Patricia C. Hirano sold 128,653 shares of the firm's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $68.32, for a total transaction of $8,789,572.96. Following the completion of the transaction, the insider now directly owns 55,789 shares in the company, valued at $3,811,504.48. This trade represents a 69.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Bhatnagar Anish sold 699,095 shares of the company's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $67.62, for a total transaction of $47,272,803.90. Following the sale, the chief executive officer now directly owns 577,076 shares in the company, valued at approximately $39,021,879.12. The trade was a 54.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 942,672 shares of company stock valued at $64,058,781 in the last ninety days. Insiders own 12.30% of the company's stock.

Wall Street Analyst Weigh In

SLNO has been the subject of a number of recent research reports. Guggenheim reissued a "buy" rating and issued a $81.00 target price (up from $70.00) on shares of Soleno Therapeutics in a research report on Friday, March 28th. UBS Group set a $105.00 price target on Soleno Therapeutics in a research report on Thursday, March 27th. Laidlaw lifted their price target on Soleno Therapeutics from $75.00 to $105.00 and gave the stock a "buy" rating in a research note on Thursday, March 27th. HC Wainwright reaffirmed a "buy" rating and set a $100.00 target price on shares of Soleno Therapeutics in a report on Tuesday. Finally, Robert W. Baird boosted their price objective on Soleno Therapeutics from $72.00 to $102.00 and gave the company an "outperform" rating in a research report on Thursday, March 27th. Seven research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $99.63.

About Soleno Therapeutics

Soleno Therapeutics, Inc, a clinical-stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics for the treatment of rare diseases. Its lead candidate is Diazoxide Choline Extended-Release tablets, a once-daily oral tablet, which is in Phase III clinical trials for the treatment of Prader-Willi Syndrome.